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vSpring Capital Closes on a New $120 Million Fund targeting companies in the Intermountain West with emphasis on Utah

SALT LAKE CITY – March 12, 2002 – vSpring Capital, headquartered in Salt Lake City, announced today that it has
closed on a new $120 million venture capital fund. vSpring will focus on investments in private companies within the
software, communications and life sciences markets. The first time fund will target companies in the Intermountain West
region with a specific focus on companies located in Utah.

vSpring Capital is supported by an impressive list of investors that include regional banks, national institutional investors
and successful entrepreneurs. vSpring’s institutional investors include Merrill Lynch, Silicon Valley Bancshares, Wells
Fargo, Zions Bank and others. Individual investors include: Dan Reeve, managing director at Horsley Bridge Partners;
Michael Levinthal, partner at Mayfield Ventures; Bob Frankenberg, former CEO of Novell, and others.

"I have been watching the Utah market for many years and believe that Utah can generate a consistent crop of good
ideas and technology. I invested in vSpring Capital because they have assembled a Utah-based team that knows how to
take these good ideas and build them into mature companies," said Dan Reeve, Managing Director, Horsley Bridge
Partners.

The five vSpring managing directors include Dr. Dinesh Patel, Ed Ekstrom, Greg Warnock, Paul Ahlstrom and Scott
Petty.

Dr. Dinesh Patel, founder/co-founder of Ashni Naturaceuticals, Salus Therapeutics, SilicoInsights, and TheraTech
(acquired by Watson Pharmaceuticals), leads vSpring’s life sciences initiative. Previously of Alcon Laboratories and
American Cyanamid, he has been an active angel investor in Utah companies for over a decade. Patel is on the board
of trustees at Pioneer Theatre, Utah Opera, and Utah State University well as the board of governors of the Salt Lake
Chamber of Commerce and the University of Utah Utech Entrepreneurship Center.

Ed Ekstrom, formerly vice president of Intel’s Networking Products Group, and previously of LANSystems, Cericor, Hewlett
Packard and CeriSyn, leads vSpring’s infrastructure management and communications initiatives. Ekstrom is an officer of
the Economic Development Corporation of Utah, Trustee of the Department of Business and Economic Development
(DBED) and former Chairman of the Utah Information Technology Association.

Greg Warnock is a recognized leader in regional private equity activity, founding several businesses including Precision
Data Link, Advanced BioAnalytical Services and Texsem Laboratories. An active angel investor, he is a trustee for The
Wayne Brown Institute and a member of the Utah Angels. Warnock currently serves on the board of directors of
Mediconnect.net and is vSpring’s managing director.

Paul Ahlstrom, previously of Peregrine Systems, Folio Corporation and CEO of Knowlix Corporation, is an active angel
investor in the Utah region. Ahlstrom is a committee chair on the Utah Technology Alliance and is an advisor and
trustee of the Utah Information Technology Association. He is a member of the board of directors of KQ Corporation and
MyFamily.com. Ahlstrom is focused on vSpring’s software and infrastructure management initiatives.

Scott Petty previously served as Chief Operating Officer of Zuka Juice until it was acquired by Jamba Juice. Prior to
Zuka, Petty consulted in the technology and manufacturing sectors with Bain & Company. Petty is an active angel
investor and a member of the Utah Angels. He currently serves on the board of directors of Cerberian and
Mediconnect.net and is focused on software investments.

Michael Levinthal, a partner in Mayfield added, "vSpring has brought together a unique blend of successful
entrepreneurs and experienced venture capitalists to build the top firm for Utah’s future. After coming to Utah for over 18
years and looking for the right opportunities, vSpring was my first investment. They have demonstrated an ability to not
only invest in the region’s best companies, but to provide tremendous assistance to their success."

"This fund will enable us to make investments in the best and brightest companies that the Intermountain West region
has to offer," said Paul Ahlstrom, one of vSpring Capital’s five managing directors. "The firm is well-positioned to work
with companies in Utah because our partnership has deep operational experience resulting from founding, building,
managing and harvesting successful IT and biotech companies in the region."

"We seek to become the first institutional investor and draft in other investors that can add value. We play an active role
on the board and become closely involved in guiding our portfolio companies toward market leadership," explained Ed
Ekstrom.

vSpring Capital is expected to invest in twenty to thirty companies during the life of the fund, with each investment
ranging from $1-6 million.

About vSpring Capital
vSpring Capital is a licensed SBIC, headquartered in Salt Lake City. Known as one of the leading funds in the region,
vSpring Capital has a reputation for identifying companies with significant potential and shaping strategies to grow
them into market leaders. Current investments include Altiris, BioMicro, Cerberian, emerGen, Gandiva, KQ Corporation,
Mediconnect.net. Myfamily.com. For more information visit http://www.vspring.com.

CONTACT:
Cheryl Snapp
MWS Agency
801.434.4440

Jeff Kearl
vSpring Capital
801.942.8999
[email protected]

http://www.vspring.com/news_press_vspring_12mar2002.html

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